Q.1 The main objective of product-product relationship is___________.
cost minimization profit maximization resource optimization
Q.2 The management decision associated with factor-product analysis is ________.
how to produce? what to produce? how much to produce?
Q.3 The management decision associated with factor-factor analysis is _________.
Q.4 The management decision associated with product-product analysis is _______.
Q.5 In classical production function, the point of inflection is where ____ is maximum.
TP AP MP
Q.6 In classical production function, the zone-II starts at the point where _______.
AP >MP AP=MP AP
Q.7 In classical production function, when TP is maximum, MP will be _______.
positive negative zero
Q.8 In three zones of production, which zone is rational zone?
Zone-I Zone-II Zone-III
Q.9 In three zones of production, which zone represents increasing returns?
Q.10 In three zones of production, which zone represents decreasing returns?
Q.11 In three zones of production, which zone represents negative returns?
Q.12 Which of the following is always a straight line?
iso-cost line iso-revenue line Both
Q.13 The line that represents all possible combinations of two inputs that can be purchased with the given amount of money is called __________.
iso-cost line budget line Both
Q.14 The curve that represents all possible combinations of two products that can be produced with given amount of resources is known as ________.
production possibility curve production frontier Both
Q.15 Generally, the iso-quant Curve is __________to the origin.
concave convex both
Q.16 Generally, the production possibility curve is ____________ to the origin.
Q.17 Production of one without the other is not possible is known as _______ products.
joint complementary supplementary
Q.18 Two products are ___________when with a change in the level of one, the other also changes in the same direction.
Q.19 Two products are _________ when change in level of one product does not affect the production level of the other product.
supplementary complementary joint
Q.20 Two products are said to be ________, when increase in the production of one results in decrease in the production of the other and vice-versa.
complementary supplementary competitive
Q.21 Production of cotton and cotton-seed is an example of ___________ products.
Q.22 If maize is grown after gram, it is an example of _____________ products.
Q.23 Growing paddy along with a small dairy farm is a case of ____________ products.
Q.24 Growing maize in kharif and wheat in winter is a case of ____________ products.
Q.25 Cotton and Sugarcane crops are example of _____________ products.
joint complementary competitive
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